My 4 room flat just finish the 5 year MOP so I can either sell or do rental. But I still haven't decided which option should I choose

If rental:

I checked market rate about $2300-$2800 for whole unit. I've paid off all my loan so this is attractive.

If sell:

I bought the unit for $165K and recently I check the value is about $500k and after 'refunding' to CPF (about $200k combine) I'm left with $300k. I'm looking at EC and I believe the market price is at $800k.

Condo is not an option as I cannot afford the 5% + 15% cash downpayment.

Appreciate further advice.

After you sell, you will have 300k for the 5%. Then your cpf can come out with 15% since you refunding the 200k plus whatever you accumulated. Should have enough right?

Well the thing is with a condo I would think that good location ain't cheap and cheap location ain't good..

i am IN EXACTLY same situation as you....i have decided to renovate my 4rm flat since its almost 30 years old....condo supply is ABUNDANT and i am looking at 1 year timeframe to make my decision...

Well the thing is with a condo I would think that good location ain't cheap and cheap location ain't good..

its the same for hdb too. good location are not cheap as well. 800-900k for 5 room is norm for good area

its the same for hdb too. good location are not cheap as well. 800-900k for 5 room is norm for good area

price is one thing COV is another..headache...

if you intent to book a EC and keep current flat, then you need to fork out cash for the 5+15%, since you cannot use cpf for 2 pty and the progress payment before the EC is completed. When it top, then sell or rent out your hdb. We shld be talking abt 150-200k at hand for the next few yr before "rental" or profit come in.

if you intent to book a EC and sell your current flat while you wait for you EC to top. You will need rental (40k x number of yrs) and buffer abit for refurnishing. We shld be look at 200k - 300k cash for the purchase of the EC as well as the rental over the next few yrs. So eventually, you upgrade without any "real cash profit".

if you intent to buy a bigger resale HDB and sell your current flat. Then you shld be looking at COV (50k) + reno(50k) + 5% cash and commission to agent (10-20k). You shld have at least 150k cash at hand to be comfortable. and that shld minus out from your cash profit because they are "sunk" cost.

If you say, your gain is only 300k, and you dun have other reason such as moving nearer to school or grandparents. I suggest you keep your hdb.

Edited August 29, 201214 yr by Jgal

Well location is very subjective, depending on where u r coming from n there r still condo going for 800K+...

My advice is that if u can afford a condo by stretching a bit, then "bite the bullet" and go for it. Cos end of

the day, if u settle for something lesser burden on the monthly cash components, does that mean that every month

u will have more things around? Take it as a form of force savings and when u sell off the condo in a few years,

u will be happy that u'd made the decision to go private and not being tie down by the tupid MOP which the

(H)orrible (D)evelopment (B)ureau requires u to do so.

End of the day, whatever the decision, u must be happy ... good luck my friend

Well... tat's a good point to consider..

Do right things right.

- accumulate 5%+15%+3%+reno FIRST.

Hdb has mop. Pte has buyer stamp duty. Plan ur finances wisely . Many ppl make $$ frm property the last 3 yrs. But many more lost their fortune in the early 1999. Just be careful not to get caught with the hot potatoes. If buy condo go for freehold.

just to add my 2 cents..i also VERY tempted to sell my HDB and buy private...but looking at situation TODAY...i think the days of

making EASY money in property are NUMBERED...OF course if you have lots of $$$ it does not apply...but for normal JOE like me..i going to renovate and stay put in my HDB for at least a year...will make a decision in a YEARS time...i can see the value of my HDB flat appreciating cos of location...BUT to tie myself to a Million dollar loan for a private property at this time in my opinion...NOT worth the risk...

DISCLAIMER:The above view pertain to my situation...taking into consideration...my age/financial backing/job status etc....

Hdb has mop. Pte has buyer stamp duty. Plan ur finances wisely . Many ppl make $$ frm property the last 3 yrs. But many more lost their fortune in the early 1999. Just be careful not to get caught with the hot potatoes. If buy condo go for freehold.

TOTALLY agree days of making easy MONEY are over...STAGFLATION is the word....

TOTALLY agree days of making easy MONEY are over...STAGFLATION is the word....

yah, esp HDB is launching so many new units nowadays. I belive going forward, HDB prices will be quite stagnant. Rental is also not so viable too.

yah, esp HDB is launching so many new units nowadays. I belive going forward, HDB prices will be quite stagnant. Rental is also not so viable too.

i must say.. HDB future is quite "predictable" now. because hdb is 1 sg/pr family 1 house.So as long as the supply is up. Prices shld be stable if not +/- abit. Condo will be more unpredictable because of the global inflation. I actually dun see why pte prices will not go up by another 10% in the next few mths. Cos' $$ are moving out of europe/us/china/india. Just make sure you something that is investment worthy. Just like German's housing, now going up and up because rich from the rest of europe are moving their funds to Germany.